Worldwide Asset Life-Cycle Management Applications Market Shares, 2023: Positive Economic Outlook and Organic Growth Drive the Market

This IDC study provides market share data for the asset life-cycle management applications market in 2023."The ALM market showed significant growth in 2023, lifted by both growth in the overall software market, as well as organic growth driven by a continued surge in facilities management applications growth, and growth in some asset-heavy segments," said Brian O'Rourke, research manager, Enterprise Asset Management and Smart Facilities at IDC. "Generative AI applications are currently being used in significant numbers, according to IDC's 2024 SaaSPath Survey, and should be an engine for continued ALM revenue growth over the medium to long term."